The pressure might be easing on earnings multiples in technology shares, Jim Cramer said on
"Stop Trading!" segment Thursday.
Cramer pointed to UBS's upgrade of
earlier, which sent the stock up more than 3.5%. "One analyst upgrade turned around the whole shooting match," Cramer said. "The multiple contraction might be ending. This stock is starting to show its luster again."
as other shares where P/Es have been squeezed.
is an example of a secondary offering driving down a stock so far that a bounce was virtually guaranteed. "When they are giving you that free money, you gotta take it."
15% slide reflects bad earnings. "Something is very wrong that they missed the quarter that bad," he said. "Something is very wrong that they blame it only on execution."
is seeing upside as oil prices rise, which itself is a function of trouble in Nigeria and other international hotspots. Based on its peers, it could have farther to climb. "Nabors has not kept pace with
, and I think it should."
At the time of publication, Cramer was long Yahoo!
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